Harvest Fund Management Co. Ltd Has $1.07 Million Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Harvest Fund Management Co. Ltd increased its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 410.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,492 shares of the company’s stock after acquiring an additional 4,417 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Builders FirstSource were worth $1,065,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BLDR. Advisors Asset Management Inc. raised its holdings in shares of Builders FirstSource by 32.0% in the 1st quarter. Advisors Asset Management Inc. now owns 2,046 shares of the company’s stock worth $427,000 after acquiring an additional 496 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in shares of Builders FirstSource in the 1st quarter worth about $229,000. Janus Henderson Group PLC raised its holdings in shares of Builders FirstSource by 21.1% in the 1st quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock worth $4,173,000 after acquiring an additional 3,483 shares during the last quarter. Dynasty Wealth Management LLC acquired a new stake in shares of Builders FirstSource in the 1st quarter worth about $357,000. Finally, Levin Capital Strategies L.P. acquired a new stake in shares of Builders FirstSource in the 1st quarter worth about $313,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Stock Up 5.9 %

BLDR opened at $189.08 on Tuesday. The company has a 50 day moving average of $186.23 and a 200 day moving average of $167.88. The company has a market cap of $21.76 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08. Builders FirstSource, Inc. has a 12 month low of $130.75 and a 12 month high of $214.70. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.02). The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the business posted $4.24 earnings per share. On average, sell-side analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource declared that its Board of Directors has approved a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the transaction, the director now directly owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

BLDR has been the topic of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group began coverage on shares of Builders FirstSource in a research note on Thursday, October 10th. They issued a “buy” rating and a $225.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Loop Capital increased their price objective on shares of Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Finally, Stephens increased their price objective on shares of Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $206.47.

About Builders FirstSource

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.